. A dot-com company ships products from three differentwarehouses (A, B, and C). Based on customer complaints,it appears that 1% of the shipments coming from A are somehow faulty, as are 4% of the shipments comingfrom B, and 3 % coming from C. Suppose a customer is mailed an order and calls in a complaint the next day.What is the probability the item came from Warehouse C?Assume that Warehouses A, B, and C ship 35%,15%, and50% of the dot-com's sales, respectively.

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Answered: A dot-com company ships products from…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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In the current first-year class of a community college, all the students come from three local high schools. Schools I, II, and III supply respectively 30%, 40%, and 30% of the students. The failure rate of students is 4%, 3%, and 6%, respectively. Given that a student passes, what is the probability that he or she came from school I?
C. An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22-33 years old, and Group C consists of drivers older than 33 years. Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company's policyholders has just made a claim (ii) Calculate the probability that the policy holder is younger than 22 years.
An insurance policy costs $120 and will pay policyholders $9,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work). The company estimates that 1 in every 2088 policyholders will suffer a major injury and that 1 in 504 will suffer a minor injury. a) Create a probability model for the profit on a policy. b) What's the company's expected profit on the policy? c) What's the standard deviation? a) First find the probability and profit for each outcome. P(event) Profit no injury major injury minor injury (Round to six decimal places as needed.)
Please do question 1f and 1g handwritten
A company sends its products from 3 warehouses, namely from warehouse A=30%, warehouseB=20% and from warehouse C=50%. Based on complaints from customers, it is known thatthe percentage of defective products sent from each warehouse is as follows: A=3% , B= 5% and from warehouse C= 2%.a. Suppose a customer after ordering the product, the next dayComplained that the item was defective. What is the probability that the product receivedthe customer is from warehouse C? b. If another customer who also orders the product and getsthe goods are in good condition, what is the probability that the product received by the customerdoes it come from warehouse A?
QUESTION 4 Takealot offers 3 types of deliveries: same day, next day and standard. 70% of deliveries are standard, 20% next day and 10% same day. (Costs for same day deliveries are considerably higher than standard delivery costs). Of the next day deliveries, only 1% arrive late. Of the same day deliveries, 2% arrive late. If a record of a parcel is selected randomly, what is the probability that it was a next day delivery and that it was delivered late? Clearly define ALL events before attempting the answer.
section 5.5 A personnel director has two lists of applicants for jobs. List 1 contains names of 24 women and 8 men, whereas List 2 contains the names of 9 women and 16 men. A name is randomly selected from List 1 and added to List 2. A name is then randomly selected from the augmented List 2. Given that the name selected is that of a man, what is the probability that a woman's name was originally selected from List 1? Round your answer to four decimal places, if necessary.
4. Claire is considering investing in a new business. In the first year, there is a probability of 0.2 that the new business will lose $10,000, a probability of 0.4 that the new business will break even ($0 loss or gain), a probability of 0.3 that the new business will make $5,000 in profits, and a probability of 0.1 that the new business will make $8,000 in profits. a. Claire should invest in the company if she makes a profit. Should she invest? Explain using expected values. b. If Claire's initial investment is $1,200 and the expected value for the new business stays constant, how many years will it take for her to earn back her initial investment?
An insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consistsof drivers 22—33 years old, and Group C consists of drivers older than 33 years.Its portfolio consists of 10% Group A policyholders, 38% Group B policyholdersand 52% Group C policyholders.The probability of a claim in any 12 month period for a policy belonging to GroupA, B or C is 13%, 3% and 2%, respectively.(i) Calculate the probability that a randomly chosen policy holder from thisportfolio will make a claim during a 12 month period. One of the company’s policyholders has just made a claim(ii) Calculate the probability that the policy holder is younger than 22 years.
C. An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22-33 years old, and Group C consists of drivers older than 33 years. Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company's policyholders has just made a claim (ii) Calculate the probability that the policy holder is younger than 22 years.
1)An investment counselor calls with a hot stock tip. He believes that if the economy remains strong, the investment will result in a profit of $50,000. If the economy grows at a moderate pace, the investment will result in a profit of $20,000. However, if the economy goes into recession, the investment will result in a loss of $50,000. You contact an economist who believes there is a 30% probability the economy will remain strong, a 60% probability the economy will grow at a moderate pace, and a 10% probability the economy will slip into recession. What is the expected profit from this investment?

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